1. Leave your debt for tomorrow.

Not only is debt a financial burden, but it can be emotionally taxing to carry around. A bonus can be a great way to start aggressively tackling whatever version of debt you may have. Especially if the interest rate on your debt is high, you'll want to pay it off as fast as possible, as interest can cost you thousands in the long run.

2. Spend it all, immediately.

Receiving a bonus, especially your first one, is exciting and liberating, but it can disappear in the blink of an eye. As people earn more, they tend to purchase more as well — and bonuses typically come over the holiday season, a notoriously expensive time of the year.

While it's OK to reward yourself and spend a little bit of your bonus, you don't want to get in the habit of blowing through cash quickly just because you can. Overspending habits can be tricky to break once they're formed, making it even more important to be a mindful spender when you receive a large sum of money.

3. Spend on the wrong things.

When you do spend your bonus, you want to make sure you're spending wisely. It's tempting to try to "save money" by buying inexpensive, low quality things, but oftentimes those cheap products will cost you in the long run.

4. Not get a head start on investing.

While it's tempting the hit the stores as soon as your bonus check comes in, remember to pay yourself first. This means taking a portion of your earnings and putting it to work in savings, retirement accounts, or other investments.

Even if you're young and retirement seems too far off to prioritize, understand that a head start can pay off exponentially in the long run, thanks to the power of compound interest.

If you have a head start on investing already, you'll want to revisit those investments when you get a bonus. As your money grows, the original portfolio you created may no longer suit your needs. Get in the habit of revisiting it every year and adjusting it to fit your current situation, which is known as "rebalancing."

5/

Oli Scarff/Getty Images

5. Not increase your 401(k) contributions.

It can be easy to set and forget your investments. Starting a 401(k) retirement account with your employer is a great first step when it comes to investing, but if you never increase your contributions, you won't be maximizing your retirement savings.

An easy, yet highly effective, money habit to establish is upping your 401(k) contribution as soon as you get a bonus. The more you can set aside today, the better off you'll be in the long run.

Check online to see if you can set up "auto-increase," which will automatically increase your contributions every year. That way, you'll never even see the extra money you're diverting to savings and you'll learn to live without it.

6. Assume if your 401(k) is fully funded, you're done.

Putting money into a 401(k) is a good start, but it's also important to consider other investment vehicles beyond your employer sponsored plan. A good next step is to put money into a Roth IRA, another retirement-savings vehicle that offers tax benefits and is particularly well suited to younger people who earn less than the income cap — $116,000 a year or less for individuals, $183,000 or less for married couples filing jointly. The maximum yearly contribution for both accounts in 2015 is $5,500 (or $6,500 for people age 50 or older).

Contributions to this type of fund are taxed when they're made, so you can withdraw the contributions and earnings tax-free once you reach 59 1/2.

Of course, you'll want to make sure your general finances are in order before you invest — but if you have a sound emergency fund, have prepared for future expenses, and are debt free, the quicker you put your money to work and jump start its growth, the better.

7/

Getty Images/Carlo Allegri

7. Not set aside money for big upcoming purchases.

There are bound to be big expenses in your future — a home, car, vacation, or kids, to name a few — that require diligent savings.